KINGSTON, Jamaica August 23, 2014 -Following a successful Staff Review of the country’s performance under the IMF’s four-year Extended Fund Facility, Jamaica is set to receive approval for draw down of US$71 million.
Jamaica surpassed all the critical targets under the Extended Fund Facility with the International Monetary Fund (IMF), at the end of the first quarter of the current fiscal year. This is an indication that the economy is moving in the right direction. This is the word from Co-Chair of the Economic Programme Oversight Committee (EPOC), Richard Byles.
Jamaica’s Finance Minister Dr. Peter Phillips says while Jamaica is expected to pass the latest quarterly test under the country's agreement with the International Monetary Fund (IMF), more challenges await the country’s economy.